DFCMX vs. DFABX
Compare and contrast key facts about DFA California Short Term Municipal Bond Portfolio (DFCMX) and DFA Short-Term Selective State Municipal Bond Portfolio (DFABX).
DFCMX is managed by Dimensional. It was launched on Apr 1, 2007. DFABX is managed by Dimensional. It was launched on Apr 11, 2022.
Performance
DFCMX vs. DFABX - Performance Comparison
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DFCMX vs. DFABX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DFCMX DFA California Short Term Municipal Bond Portfolio | 0.44% | 2.55% | 2.84% | 2.53% | 0.65% |
DFABX DFA Short-Term Selective State Municipal Bond Portfolio | 0.58% | 2.46% | 2.90% | 2.87% | 0.55% |
Returns By Period
In the year-to-date period, DFCMX achieves a 0.44% return, which is significantly lower than DFABX's 0.58% return.
DFCMX
- 1D
- 0.00%
- 1M
- -0.15%
- YTD
- 0.44%
- 6M
- 0.96%
- 1Y
- 2.60%
- 3Y*
- 2.46%
- 5Y*
- 1.47%
- 10Y*
- 1.17%
DFABX
- 1D
- 0.00%
- 1M
- -0.05%
- YTD
- 0.58%
- 6M
- 1.12%
- 1Y
- 2.63%
- 3Y*
- 2.60%
- 5Y*
- —
- 10Y*
- —
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DFCMX vs. DFABX - Expense Ratio Comparison
DFCMX has a 0.19% expense ratio, which is lower than DFABX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
DFCMX vs. DFABX — Risk / Return Rank
DFCMX
DFABX
DFCMX vs. DFABX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA California Short Term Municipal Bond Portfolio (DFCMX) and DFA Short-Term Selective State Municipal Bond Portfolio (DFABX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| DFCMX | DFABX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.45 | 3.90 | -0.45 |
Sortino ratioReturn per unit of downside risk | 6.05 | 7.13 | -1.09 |
Omega ratioGain probability vs. loss probability | 2.84 | 3.50 | -0.66 |
Calmar ratioReturn relative to maximum drawdown | 4.25 | 5.04 | -0.79 |
Martin ratioReturn relative to average drawdown | 24.02 | 27.87 | -3.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFCMX | DFABX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.45 | 3.90 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.65 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.33 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 2.44 | -1.16 |
Correlation
The correlation between DFCMX and DFABX is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
DFCMX vs. DFABX - Dividend Comparison
DFCMX's dividend yield for the trailing twelve months is around 2.57%, less than DFABX's 2.70% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFCMX DFA California Short Term Municipal Bond Portfolio | 2.57% | 2.23% | 2.61% | 1.70% | 0.71% | 0.36% | 0.87% | 1.43% | 1.04% | 0.87% | 0.86% | 0.82% |
DFABX DFA Short-Term Selective State Municipal Bond Portfolio | 2.70% | 2.33% | 2.86% | 2.52% | 1.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
DFCMX vs. DFABX - Drawdown Comparison
The maximum DFCMX drawdown since its inception was -2.20%, smaller than the maximum DFABX drawdown of -2.46%. Use the drawdown chart below to compare losses from any high point for DFCMX and DFABX.
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Drawdown Indicators
| DFCMX | DFABX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.20% | -2.46% | +0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -0.59% | -0.50% | -0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -2.20% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -2.20% | — | — |
Current DrawdownCurrent decline from peak | -0.16% | -0.06% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -0.25% | -0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.10% | 0.09% | +0.01% |
Volatility
DFCMX vs. DFABX - Volatility Comparison
DFA California Short Term Municipal Bond Portfolio (DFCMX) has a higher volatility of 0.20% compared to DFA Short-Term Selective State Municipal Bond Portfolio (DFABX) at 0.18%. This indicates that DFCMX's price experiences larger fluctuations and is considered to be riskier than DFABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFCMX | DFABX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.20% | 0.18% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 0.41% | 0.39% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.79% | 0.71% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.90% | 0.97% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.88% | 0.97% | -0.09% |